The Committee for a Responsible Federal Budget says the bill, which will cost $1.456 trillion under conventional scoring, could cost up to $2.2 trillion. Factoring in economic feedback effects and interest costs, the real tab is likely to be around $2 trillion, the group says.

According to the centrist Tax Policy Center, the majority of households will receive tax cuts next year, with the largest benefits going to high-income taxpayers. By 2027, however, 53 percent of households will see tax hikes due to the expiration of the individual tax cuts.